Deals
Rio’s Revamp Hints at Potential $9 Billion BHP-Style Spinoff
- Energy and Minerals unit primed for an offer: Bernstein’s Gait
- BHP spinoff South32 has outperformed parent on share markets
This article is for subscribers only.
Rio Tinto Group looks like it’s putting about $9 billion of unwanted assets from coal and uranium to Canadian iron ore into a single basket ready to spin off, according to Sanford C. Bernstein.
Incoming Chief Executive Officer Jean-Sebastien Jacques on Tuesday revamped the four key divisions of the world’s second-biggest mine operator. The new Energy and Minerals segment features coal and uranium mines, salt, borates and titanium-dioxide businesses, and Rio’s Iron Ore Co. of Canada unit.